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    Pro-crypto lawmaker Tom Emmer wins Republican nomination for House speaker

    2023.10.25 | exchangesranking | 801onlookers

    Republican members of the United States House of Representatives have chosen Tom Emmer, the current majority whip and crypto proponent, as their nominee to be the next speaker. 

    According to multiple reports from Oct. 24, Representative Emmer will be the Republicans’ nominee in the next vote to determine a speaker of the House following a closed-door session. The congressman was one of several candidates weighed by Republicans following the failure of Representative Jim Jordan to secure enough votes to win the speakership and Representative Steve Scalise dropping out of the race.

    On Oct. 3, U.S. lawmakers in the House of Representatives voted to declare the speaker seat vacant, effectively removing Representative Kevin McCarthy from the position. Representative Patrick McHenry, a pro-crypto lawmaker who also chairs the House Financial Services Committee, has been acting as temporary speaker, with Republicans unable to unite behind one candidate — Jordan failed to obtain a majority of support in the House after three rounds of votes.

    Emmer announced his intention to seek the Speaker’s seat on Oct. 20. When speaking with Cointelegraph during the Permissionless II conference in September, he branded himself as a technologically savvy lawmaker who saw crypto as a non-partisan issue in Congress. Cointelegraph reached out to Emmer’s office but did not receive a response at the time of publication.

    “Emmer brings a fresh perspective, a lot of energy with his personality,” said the Blockchain Association’s director of government relations, Ron Hammond. “For the industry, it’s a great thing to have someone who understands these technologies.”

    Related: First major success in US Congress for two crypto bills: Law Decoded

    Without a speaker, the House of Representatives has effectively halted progress on crypto bills passed by the Financial Services Committee expected to head for a full floor vote. Until Republicans are able to secure 217 votes — depending on the number of lawmakers present — for one candidate, the Financial Innovation and Technology for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act and the Keep Your Coins Act are all legislatively on hold.

    It’s unclear if Representative Emmer will have enough support to win as speaker, a vote expected in the next day or two, given that the House has been unable to move forward with any legislation without clearly defined leadership. All Democrats present — between 212 and 210 — for the three previous rounds of voting unanimously supported Representative Hakeem Jeffries, while roughly 20 Republicans voted for individuals other than Jordan. Emmer received only one vote in each of those three ballots.

    Magazine: Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’

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